FROM THIS EPISODE

Americans have a famously low savings rate: a Harvard survey found that half of us, if faced with an emergency, couldn't come up with $2,000 in 30 days. Most people would rather spend than save — and one of our favorite expenditures is playing the lottery. Last year, we spent more than $58 billion on lottery tickets, or roughly $200 per person. As entertainment goes, the lottery is pretty cheap – a dollar and a dream, and all that. But as an investment, it offers a dreadful return, which is why the lottery is sometimes called "a tax on stupid people." We look at a little-known financial initiative that might help people save money while giving them the thrill of the lottery.